Surat: A case of financial fraud running into crores has come to light in the city. Urvish Piyush Agravat, who had opened a share trading office under the name Agile Loyal Finance at Gruham Icon in Kosad, has been accused of cheating his business partner of ₹68.50 lakh before fleeing to Dubai. Police suspect the scam could involve hundreds of investors and losses worth several crores.

According to the complaint lodged with the Surat Crime Branch, complainant Prince Hiteshkumar Pandya, a resident of Vaj Residency near Sarthana Jakatnaka, was initially involved in the online grocery business. In 2022, he came into contact with Agravat, who promised high returns—10% in the first four months, 13% in the next four, and 15% thereafter. Lured by these assurances, Pandya and his father invested substantial sums.

Agravat also offered commissions for bringing in new investors and later formed a partnership firm under the name Agile Loyal Finance, with Pandya holding 50% partnership. Together, they attracted nearly 700 investors.

However, by late February 2025, Agravat reportedly left for Dubai. Claiming his company had suffered a ₹5 crore loss, he slashed investor commission from 3% to 1%. This led to unrest among investors, who confronted him at his office.

On Thursday, Pandya approached the Economic Offences Wing of the Surat Crime Branch, alleging fraud of ₹68.50 lakh. Inspector V. V. Vagadiya of the Crime Branch has urged other victims of the alleged scam to come forward and register their complaints. DeshGujarat